⚠️ ADA Slips Below $0.3389 Level, Deeper Downtrend Looming?

⚠️ ADA Slips Below Critical Support
Cardano (ADA) has fallen below the key $0.3389 support level, raising concerns of an extended bearish phase. This breach suggests that sellers are gaining control, and investors are wary of a deeper downtrend.

📉 Technical Analysis Signals Bearish Momentum
On the 4-hour chart, ADA is trading below the 100-day SMA, a sign of strong bearish momentum. The 4-hour Composite Trend Oscillator shows negative signals, indicating increased selling pressure. On the daily chart, a bearish candlestick pattern further highlights this trend, with sellers driving the price lower.

📊 Potential for Further Decline
The 1-day Composite Trend Oscillator suggests prolonged losses, with ADA failing to break above the SMA line. As momentum turns negative, Cardano may face challenges in recovering, risking extended price declines.

🔑 Key Levels to Watch
Investors should monitor the $0.2388 support level closely. Holding above this threshold could allow for a potential recovery, targeting the $0.3389 mark. However, a drop below $0.2388 could signal a deeper bearish trend and further declines.